Trader earns $327K on memecoin STONK after buying at $1M market cap
- —Realized profit of $327,436 across all positions as of September 13
- —STONK was bought at a market cap of about $1 million; it is now around $189 million
- —The token fell 22% in 24 hours to $0.23, 35% below its peak of $0.343
- —Stonkfun generated $9 million in revenue in 50 days and burned 14.4% of STONK's supply
Why it matters: The case highlights the high volatility and risks of Solana memecoins, as well as competition between launchpads Stonkfun and Pump.fun.
Source: Bitcoin.com